Powerball jackpot would still leave you pinching pennies to afford these things

Want to own a baseball team? You'll need that jackpot to roll over at least one more time

A wise man once said that if he had $1 million, he’d buy you a fur coat (but not a real fur coat, which is cruel).

What about what he wouldn’t buy you, if he had 657 times as much money?

That’s how much you (or Steven Page of the Barenaked Ladies rock band, the wise man who wrote the above-mentioned song about having $1 million) would get if you took the one-time lump sum payment for winning tonight’s Powerball lottery, with a jackpot of $1.5 billion.

Before taxes, the lump-sum payment would be $930 million.

Take off about $232 million for the 25 percent federal withholding and another $40 million or so for the 4.34 percent state withholding, and you are left with a net payment of $657 million.

Obviously, that’s a lot of cash. But being the Negative Nancies that we sometimes are, that led us to wonder:

What would that massive amount of scratch NOT let you afford?

Here are just some of them:

The money to pay off the Detroit Public Schoolsreported debt of $3.5 billion, which includes $1.9 billion in legacy costs and cash-flow borrowings plus $1.7 billion in bonds and state loans, according to the Citizens Research Council of Michigan.

The Little Caesar’s pizza chain. The Ilitch family’s company sells $3.9 billion worth of pizza worldwide each year, according to Forbes, and is believed to be worth well north of $1 billion.

Dan Gilbert’s real estate portfolio. He has invested $2.2 billion in Detroit real estate and redevelopment, according to Quicken Loans Inc., the mortgage company of which he is founder and chairman. He’ll easily want more than $657 million for his 80-plus properties.

The Detroit Institute of Arts collection – possibly. A Christie’s Appraisals valuation of the museum’s 2,781 pieces of art during the city’s bankruptcy pegged the collection’s value at between $454 million and $867 million.

The University of Michigan football team, valued at $811.3 million, although you could buy the Michigan State University football team, valued at $246.56 million, according to a Monday report in the Wall Street Journal. (My beloved national champion University of Alabama Crimson Tide: $694.87 million.)

What are some that we missed?

Jeff Holyfield, a spokesman for the Michigan Lottery, said in an email that on Monday 2.7 million Powerball tickets were purchased and as of Tuesday afternoon, Michigan players had bought more than 5 million tickets for Wednesday’s drawing.

An estimated 29 percent of the revenue will go to the state’s School Aid Fund. Estimated School Aid Fund revenue from the 14.5 million tickets purchased for Saturday night’s drawing for the $950 million jackpot was $8.5 million.